Forager Australian Shares Fund on IDP Education Limited
Thesis
IDP Education is managing a difficult operating environment better than it had previously. The fund describes its 2026 results and cash generation as impressive, indicating meaningful operational resilience. At the same time, the global environment for international students continues to deteriorate. This has caused the company to reduce expectations for the coming year and leaves the investment exposed to continued weakness in international student flows.
“Its 2026 results and cash generation were impressive.”
Key risks
- The global environment for international students continues to deteriorate.
- The company has lowered expectations for the coming year.